Osborne Clarke advised the Berlin-based airfreight startup cargo.one on a Series A financing round of EUR 16 million. Taylor Wessing advised Index Venture.
With the fresh capital the startup wants to finance its expansion to North America and Asia. In addition, cargo.one wants to create 70 new jobs this year, which would triple the number of employees, and further win more airlines as partners.
The financing round is led by Index Ventures based in London and San Francisco. Further investors are Next47 and the former investors Creandum, Point Nine Capital and Lufthansa Cargo. Former Skyscanner CPO Carlos Gonzalez-Cadenas also joined the Berlin startup.
cargo.one is following the trend that airlines, which have been affected by the sharp drop in passenger traffic in the corona crisis, are increasingly dependent on sales from freight traffic. In addition to the growth potential, the startup also sees a need for digitization processes in order to reduce transaction costs and use freight capacities more efficiently.
The platform offers real-time visibility of the available airfreight resources across airlines and routes, with the aim of replacing time-consuming processing via telephone and e-mail traffic for the users (mostly freight forwarding offices). Currently, 12 airlines use the cargo.one platform to book freight shipments, including Lufthansa, All Nippon Airways, Finnair, Etihad, AirBridgeCargo and TAP Air Portugal.
The Osborne Clarke team led by Robin Eyben (Picture – lead) consisted of Maximilian Vocke, Dana Alpar (both corporate / venture capital), Felix Hilgert (IP / IT law), Robert Rentsch and Kamissa Kruse (both employment).
The Taylor Wessing team included Hassan Sohbi (Partner), David Becker (Senior Associate), Olga Kopka (Salary Partner), Max Willen (Professional Support Lawyer) alle M&A/Venture Capital, Dr. Gregor Staechelin (Partner, Commercial), Arno Gotting (Salary Partner, Commercial), Dr. Jan Grawe (Salary Partner, Employment, Pensions & Mobility), Dr. Nikolai Voss (Senior Associate, Trademarks, Advertising & Design), Friedrich Lieb (Senior Associate, Technology, Media & Telecommunications), Dr. Sara Thienhaus (Associate, Employment, Pensions & Mobility) all Frankfurt am Main.
Involved fees earner: Robin Eyben – Osborne Clarke; Felix Hilgert – Osborne Clarke; Kamissa Kruse – Osborne Clarke; Robert Rentsch – Osborne Clarke; Maximilian Vocke – Osborne Clarke; David Becker – Taylor Wessing; Arno Gotting – Taylor Wessing; Jan Grawe – Taylor Wessing; Olga Kopka – Taylor Wessing; Friedrich Lieb – Taylor Wessing; Hassan Sohbi – Taylor Wessing; Gregor Staechelin – Taylor Wessing; Sara Thienhaus – Taylor Wessing; Nikolai Voß – Taylor Wessing; Max Willen – Taylor Wessing;